US fiscal standoff: May the nation default on its debt? | Enterprise and Economic system

From: Counting the Value

Treasury Secretary Janet Yellen warns of a US default by early June if Congress fails to lift debt ceiling.

The nationwide debt of the US is now six instances what it was initially of this century. Regardless of its rising liabilities, the nation has by no means defaulted on its funds.

Nevertheless, the US has hit its $31.4 trillion borrowing restrict. This implies the federal government might run out of money to pay its payments in lower than 5 months. It additionally places Congress on the clock – to lift or droop the debt ceiling.

However getting lawmakers to agree on what motion to take is predicted to be a tricky battle.

Elsewhere, Britain’s Nationwide Well being Service is at a breaking level. Can it’s reformed?

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